Dec, 31, 2023 — SOUTHWEST FEDERAL CREDIT UNION is a federal credit union headquartered in ALBUQUERQUE, NM with 2 branch locations and about $74.12 million in total assets. Opened 88 years ago in 1936, SOUTHWEST FEDERAL CREDIT UNION has about 4,462 members and employs 26 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | SOUTHWEST FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 8111 Harper Dr NE ALBUQUERQUE, NM 87111-1046 |
| Phone: | (505) 243-6751 |
| Fax: | (505) 243-5604 |
| Website: | https://www.sfcunm.org |
| Branches: | 2 branch locations |
| Members: | 4,462 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 964 |
|---|---|
| Membership Type: | Multiple common bond - Primarily communications and utilities |
| Corporate Credit Union: | No |
| Year Opened: | 1936 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $74,118,819 |
| CEO/Manager: | Randy Lunsford |
| Chairperson: | Albert Putzig |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,107,261 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 10,163,652 |
| Unsecured Loans | 8,890,091 |
| Other Loans | 17,223,790 |
| TOTAL LOANS | 37,195,015 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -196,218 |
| Land And Building | 2,573,783 |
| Other Fixed Assets | 355,128 |
| NCUSIF Deposit | 700,078 |
| All Other Assets | 0 |
| TOTAL ASSETS | 74,118,819 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 145,838 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 14,193,829 |
| Regular shares | 27,267,873 |
| All Other Shares & Deposits | 30,164,703 |
| TOTAL SHARES & DEPOSITS | 71,626,405 |
| TOTAL LIABILITIES | 71,772,243 |
| Regular Reserve | 0 |
| Other Reserves | -2,393,293 |
| Undivided Earnings | 4,739,869 |
| TOTAL EQUITY | 2,346,576 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 74,118,819 |
| INCOME & EXPENSE | |
| Loan Income | 2,039,218 |
| Investment Income | 622,840 |
| Other Income | 305,655 |
| Total Employee Compensation & Benefits | 1,467,493 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,396,705 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 135,172 |
| Cost of Funds | 434,806 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 8,817 |
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